Indian banks warn hackers could use emi moratorium to dupe people
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Indian banks are offering their customers the chance to defer payments of their equated monthly installments (EMI) on housing loans or credit cards because of the lockdown. And the industry
is now gearing up for possible scams on people, using benefits on the moratorium as the bait. Here's how this scam works. Fraudsters can call you representing your bank and coerce you
into sharing confidential details that allow them access to your bank account, which is then used to make fraud transactions. It’s worth noting since the EMI moratorium scheme was announced
a few days back, attackers have only just started looking out for their targets. However, banks are doing their best to prepare users. Sameer Ratolikar, Chief Information Security Officer,
HDFC Bank shares his insights on how fraudsters are trying to target customers.